Most Altcoins follow BTC. When it rallies, they rally. When it crashes, they follow suit.
Even when they have great use cases. I don't know why.
Perhaps we're all still apprehensive of crypto even though we seem to trade and hoard it. No one really understood or trusted the internet when it launched, or cards or eCommerce or even AI - However, they've all proven to be what humanity needs to drive efficiencies.....
Personally I think we're in for a long play so for anyone who doesn't believe in BTC or understand its trajectory, hope this chart helps.
In summary,
1. Stock up on BTC and your favourite trusted AltCoins (not dumbcoins) now
2. Do not go all in. Always leave enough cash on the side to average down as BTC may go down to $13,800 to retest its 2020 breakout
3. Always take profits
Good luck in late 2024 or 2025 :)
Even when they have great use cases. I don't know why.
Perhaps we're all still apprehensive of crypto even though we seem to trade and hoard it. No one really understood or trusted the internet when it launched, or cards or eCommerce or even AI - However, they've all proven to be what humanity needs to drive efficiencies.....
Personally I think we're in for a long play so for anyone who doesn't believe in BTC or understand its trajectory, hope this chart helps.
In summary,
1. Stock up on BTC and your favourite trusted AltCoins (not dumbcoins) now
2. Do not go all in. Always leave enough cash on the side to average down as BTC may go down to $13,800 to retest its 2020 breakout
3. Always take profits
Good luck in late 2024 or 2025 :)
Historical Market Correction - 51 weeks : After the peak of the bull run, there's typically a 51-week market correction when we see a decline
Bottoming Out- 9 weeks: Bitcoin usually takes around 9 weeks to reach its lowest point near the bear market bottom, after the market correction phase.
Bear Market Rally - 36 weeks: Following the correction, there's a bear market rally lasting approximately 36 weeks, characterized by a resurgence in Bitcoin's price.
Accumulation Range: Bitcoin may experience sideways and slightly bearish price action within an accumulation range between $20k and $30k
Second Chance Buy Opportunity:- 9 weeks pre-halving: Theres usually a 2nd chance at 9 weeks before the halving so mid Feb. between $19-22k
Waiting for $13800 for a good entry point but if it breaksout above 33K after the halving, its going to fly